Police arrest businessman for alleged $26,000 fraud against U.S. citizen

Police arrest businessman for alleged $26,000 fraud against US citizen in Lagos

News Agency Of Nigeria

January 30, 2024 1:56 PM

Smith was arrested for laundering funds obtained through unlawful activity and fraud.

Businessman, Lanre Smith [LinkedIn Nigeria]

A businessman, Lanre Smith, was on Tuesday, arraigned before a Federal High Court in Lagos, over an alleged $26,000 fraud against a U.S. citizen.

Smith is being prosecuted by the Force Criminal Investigation Department of the Nigerian Police on a three-count charge of conspiracy, laundering of funds obtained through unlawful activity and fraud.

The prosecutor, Mike Enejere, told the court that the defendant committed the offence sometime in August 2016. Enejere said that Smith conspired with others, now at large to conduct a financial transaction from the proceeds of an unlawful activity.

He said that the defendant deceived one Lindy Drake to deposit 26,000 dollars into a U.S. Well Fargo account with the name Wilok Ltd. The prosecutor further alleged that the defendant’s action was to carry out a specified unlawful activity. Enejere also said that Smith also obtained about ₦10.1 million on the pretext that he had deposited the $26,000 into the U.S. Well Fargo account.

He said that the offences contravened Sections 1(1)(a), 7 and 7(2)(b) of the Advanced Fee Fraud and Other Fraud Related Offences Act, 2006. The defendant pleaded not guilty to the charge.

The defence counsel, A. A. Apara made an oral application for the bail of the defendant which was objected to by the prosecutor. Justice Ibrahim Kala ordered defence counsel to file a written bail application before the court. He then adjourned the case until February 5 for a hearing of the bail application and commencement of trial.

The News Agency of Nigeria (NAN) reports that the charge was initially filed in 2019 but later struck out because the police could not produce Smith.

News Agency Of Nigeria